Cryptocurrency

Bitcoin halving in 2020 will not cause a rapid increase in the value of cryptocurrency

On May 12, 2020, a significant event will occur in the cryptocurrency industry - halving the bitcoin or reducing the reward for mining the first cryptocurrency in two to 6.25 BTC per block. This will be the third halving in the history of bitcoin: the first occurred in October 2012, when the reward for miners fell from 50 BTC to 25 BTC, the second halving occurred in July 2016 with a decrease in reward to 12.5 BTC per block. Many enthusiasts, investors and miners believe that these two events were the catalysts for the sharp increase in the value of the Bitcoin cryptocurrency in 2013 and 2017. After another halving in May 2020, a significant change in the value of Bitcoin is also prophesied, but we do not completely agree with such statements, and then we will try to explain why you should not wait for Bitcoin to rise in price by 50% or more percent from the current values ​​only because of halving.

Verus Coin (VRSC) - a coin based on the VerusHash 2.1 algorithm, mined on the CPU

Verus Coin (VRSC) is an interesting crypto project with hybrid PoW + PoS mining, available on the network for some time. The main idea of ​​the project and its own VerusHash algorithm is that you can mine it using a central processing unit (CPU). And although there are also GPU miners for this algorithm, they do not give any advantage over mining on the central processor. Toward the end of last year, an FPGA miner with VerusHash algorithm support was released, which turned out to be much more efficient than the CPU / GPU miners existing at that time. This fact required a revision of the mining algorithm, and the latest version of VerusHash 2.1 made it impossible to use FPGA and returned the CPU as the main choice for mining Verus Coin.

 

MIBcoin (MIB) - a coin mined only on smartphones

An interesting cryptocurrency project appeared on the Internet, where all actions are performed on a smartphone, including mining, and we decided to check it out. MIB stands for Mobile Integrated Blockchain, where coins can only be mined using a regular Android or iOS smartphone through a dedicated application. The project came from Asia and is primarily focused on China and Korea. The MIB coin is traded on the Korean Probit exchange, as well as on the Chinese CoinBene with a daily volume of less than 2 BTC and a total market capitalization of around 50 BTC, according to data from CoinMarketCap. At the time of writing, the coin occupied 1113 place in market capitalization among cryptocurrencies.

ZANO mining using the new ProgPoWZ algorithm

The crypto project Zano (ZANO) is a relatively new project launched last year. Zano - This is a hybrid coin (PoW / PoS) designed for e-commerce applications with a block reward of 1 ZANO. The project was launched with the exchange of coins with Boolberry (BRR) at the rate of 1 to 1, however ZANO is best known for being the first project that is mined using the new ProgPoWZ algorithm (based on the usual ProgPoW) and at the moment it is the only coin on this algorithm. Despite the fact that ZANO is one of the earliest projects for the new ProgPoWZ algorithm, it seems it has not aroused much interest among users yet. Our attention was drawn to the fact that ZANO was recently added to Profit-Mine.com, and now you can easily track the profitability of mining for this coin, although at the moment the coin is not in the top of the most profitable for mining.

The next BEAM hard fork is scheduled for June 28 (block 777777)

The crypto project BEAM announced its plans for the upcoming hard fork, which will have to happen on block number 777777. Wallets earlier than version 5.0 will stop working correctly, so users will have to upgrade them to version 5.0 or later. The executable files for raising the node (Node) and wallet will be released in late May, about 1 month before the hard fork.

How to configure RavenCoin mining (RVN) on the new KAWPOW algorithm

We already wrote earlier that soon, namely on May 6, the RavenCoin (RVN) project will make hard forks and will be transferred to a new mining algorithm called KAWPOW, which is derived from ProgPOW. In this article below, you will see detailed step-by-step instructions on how to configure your rigs for RavenCoin mining on the new algorithm after its hard fork. At the moment, 4 miners are already available that support this mining algorithm and you can use any of them according to your preference.

 

RavenCoin (RVN) will be switched to the new KAWPOW mining algorithm on May 6

Already at 6:00 p.m. UTC on May 6, 2020, the RavenCoin (RVN) coin will hardfork for a new mining algorithm called KAWPOW. Recall that at the moment the coin is mined on the X16Rv2 algorithm. The new KAWPOW algorithm is derived from ProgPOW with parameters specific to RavenCoin, so in terms of performance, we can expect about the same hashrate as for ProgPOW.

 

 

 

Mining Evolution (EVOX) and Morelo (MRL) using the RandomARQ algorithm

Mining Evolution (EVOX) and Morelo (MRL) are two relatively new cryptocurrency projects that use the RandomARQ algorithm (one of the RandomX variations), first introduced by ArQmA for mining, for their mining. The interesting thing about this algorithm is that it is more balanced in terms of performance between AMD and Intel processors, in contrast to the usual RandomX, where AMD CPUs are significantly superior to Intel. Therefore, if you use Intel processors, you might want to study the EVOX and MRL projects in more detail. Unfortunately, both of these projects have one significant minus, most of the hashrate (about 95%) is concentrated on one Chinese pool called Walemo, which is definitely a problem. As for the software for mining these coins, the RandomARQ algorithm is widely supported by most popular miners for RandomX, for example XMRig, SRBMiner-MULTI, XMR-Stak.

 

Choosing a software wallet for cryptocurrency Bitcoin

Everyone who has ever dealt with cryptocurrencies has always wondered about keeping their crypto savings. For these purposes, today there is a large version of various solutions that we discussed in detail back in 2018. Today, we will dwell on individual software wallets for Bitcoin, especially since now there are more than 50 different items, and choosing the right one for you is not an easy task.

 

Conevo (EVO) cryptocurrency using the RanomEVO mining algorithm

Conevo (EVO) is another crypto project that was forked by Monero based on the RandomX mining algorithm, although using its own modification called RandomEVO. You can test Conevo mining if you have a free central processing unit (CPU) to mine something new. Please note that although EVO is a PoW (Proof of Work) coin, it also supports masternodes and approximately 2/3 of the rewards relies on the nodes, and the remaining 1/3 goes to the miners. To mine Conevo, you will need to use a special XMRig fork called XMRig-EVO, which is designed specifically for the RandomEVO algorithm and does not support others.

 

 

Quantum (QRL) - another project work on RandomX mining algorithm

Quantum is another cryptocurrency project that has recently been successfully transferred to RandomX as a mining algorithm. Quantum was originally mined using the CryptoNight algorithm. Now, after a hard fork on RandomX, it is recommended to mine Quantum on a central processing unit (CPU), because despite the availability of GPU miners, the performance of mining on the RandomX algorithm, especially with the latest AMD Ryzen processors, is much higher in terms of performance and energy efficiency compared to GPUs . Of course, in addition to the transition to a new mining algorithm, the latest fork fork brings Quantum to the project with additional new functionality, which you can familiarize yourself with if you wish. Several miners are currently available for Quantum mining, such as XMRig, SRBMiner-MULTI, XMR-Stak-RX. If you are looking for the exchange on which QRL is traded, then Bittrex will probably suit you, although it does not have the largest trading volumes.

RavenCoin - hard fork in April 2020 for the new mining algorithm KAWPOW

The cryptocurrency development team Raven Coin has announced yet another hardfork of its cryptocurrency to change the mining algorithm from X16RV2 to KAWPOW. That will allow once again to drop ASIC and FPGA devices from mining, leaving only GPU miners in mining. The previous attempt when switching to X16RV2 was not a long success because X16R and X16RV2 are very close in structure. When switching to the KAWPOW algorithm (a modification of PROGPOW), developers promise a longer period of time for mining on the GPU. The date and block of the hard fork has not yet been announced, but now you can download the kawpowminer and configure it, test your hardware on the new mining algorithm.

 

  Expected hashrate of Nvidia video cards based on KAWPOW algorithm:

Earn CureCoin (CURE) Helping Combat COVID-19 Coronavirus

The crypto project CureCoin (CURE) is not new, in fact it has been available for quite some time since 2014, but until now it has not been possible to show itself in all its glory. After the Coronavirus COVID-19 pandemic, which is currently taking over the whole world, and the FOLDING@HOME assistance efforts that you can participate in using your computing resources, CureCoin can further stimulate the transition of your mining rigs to the FOLDING@HOME project instead of cryptocurrency mining. At the same time, in a sense, you will still “mine cryptocurrencies”, as you will be rewarded with CureCoin (CURE) coins. And although this may not be very profitable, it can help you cover the cost of electricity if you still decide to help scientists working on COVID-19 research.

Ethereum Classic - block reward decreased from 4 to 3.2 ETC

The crypto project Ethereum Classic (ETC) has reduced the block reward for miners from 4 to 3.2 ETC in accordance with their monitor policy upon reaching the block under serial number 10 million. This 20% decrease was introduced by accepting proposals in ECIP 1017 for changing monetary policies with emission reductions of 20% each new era (5 million blocks). we have just reached block number 10,000,000, thus moving on to the 3rd era. Therefore, the next 20% (to 2.56 ETC) reward reduction will occur on the 15 million block in just over 2 years. Therefore, if you are currently mining for Ethereum Classic, be sure to take into account the block reward just introduced.

The profitability of mining GRIN cryptocurrency on the mining algorithm Cuckatoo32 (GRIN32)

Cryptocurrency GRIN is a unique phenomenon in the world of cryptocurrencies, as its blockchain is confirmed immediately by 3 different POW mining algorithms: Cuckaroom29, Cuckatoo31 and Cuckatoo32. Before the hard fork, on January 16, 2020, there were only two algorithms, and the third Cuckatoo32 appeared after the hard fork. Cuckatoo32 or GRIN32 has a rather big complexity compared to GRIN31, which it will replace over time, because mining complexity on GRIN31 will only increase over time, and for GRIN32, complexity will be constant. At a time when the complexity of mining GRIN31 and GRIN32 is equal, it will be possible to say that GRIN32 replaced GRIN31. Because the possibility of mining GRIN on the GRIN32 algorithm is possible right now and few people know about this possibility, then this option of mining, despite the higher complexity, may be more profitable than mining GRIN31 at the moment.

On January 16, 2020, the next GRIN cryptocurrency hard fork will be held

At block 524160, i.e. On January 16, 2020, the next hard fork will be launched on the GRIN cryptocurrency network, launching version 3 of the program. As the previous hard fork, this time the mining algorithm of GRIN29 will change from Cuckarood29 to Cuckaroom29. At the same time, the mining algorithm of GRIN31, as before, will remain unchanged, but at the same time, the complexity of mining GRIN31 will gradually increase over the course of 31 weeks. After which GRIN31 will be completely replaced by GRIN32. GRIN32 mining is also available, but its complexity will not change, and according to calculations, the mining complexity of GRIN31 and GRIN32 will equal in late February - early March.

Ethereum's hard fork Istanbul doesn't cancel difficulty bomb

Today, on December 7, 2019, a hard fork under the name Istanbul will be held at block 9069000. With this hard fork, Ethereum introduces 6 changes, but none of them affects the mining process of this cryptocurrency. EIP2384 canceling the complexity bomb (increasing block time) was transferred to the next hard fork called Berlin, which is expected to be released in early 2020 and it is rumored that it will replace the mining algorithm from Ethash to ProgPow. Therefore, before the introduction of Berlin, miners will face a decrease in Ethereum cryptocurrency emissions. For a complete list of changes in Istanbul, click here.

November 30, 2019 Monero hard fork cryptocurrency will be held

Talk about the transition of the Monero cryptocurrency to the new RandomX algorithm has been going on the network for a long time, but the date of such a hard fork remained unknown until recently. A few days ago, the developers of the Monero cryptocurrency launched a test public network with the RandomX mining algorithm and plus a graph of the transition to RandomX appeared. According to which the hard fork will be held on block 1978433 or tentatively on November 30, 2019.

 

Ravencoin - the new mining algorithm X16Rv2 already on October 1

The rather popular cryptocurrency Ravencoin (RVN) from October 1, 2019 switches to the new mining algorithm X16Rv2. However, the client under version 2.5.0 is not yet available on the official  ravencoin.org website, in which this change will be taken into account. The developers promise to release a new version of the client this week, i.e. until September 1, 2019. Also, for the remaining month before the RavenCoin hard fork, miner developers should work as well. Currently, none of the well-known miners supports the X16Rv2 mining algorithm.

BEAM cryptocurrency hardfork August 15, 2019 on the new BeamHash2 mining algorithm

Today, on August 15, 2019, at block 321321, the Beam cryptocurrency switches to the new mining algorithm BeamHash2 (a variation of EquihashR) instead of Equihash150 / 5 (BeamHash). One of the unpleasant feature of the BeamHash2 algorithm is the impossibility of mining on video cards with 3GB of video memory for Windows, which is why owners of the Nvidia GTX1060 3Gb after the BEAM hard fork will have to look for other cryptocurrencies for mining  or change or switch to Linux.